PM Youth Loan Scheme 2nd Balloting Online Result 2014
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Second balloting results Prime Minister Youth loan scheme 2014
Both men and women holding valid CNIC aged between 21 to 45 years were eligible to apply for loans under this scheme. Only one guarantor was required. Fifty percent loans were reserved for women. Debit-equity ration was just 90.10. Borrower’s contribution of equity was also possible in form of immovable property. The maximum tenor of the loan under this scheme is 8 yearswhich includes one year of grace period. Borrower has to pay only 8 percent mark up while the remaining mark up will be paid by government.
100000 loans will be disbursed through Prime Minister Youth loan scheme. Minimum limit of the loan is 2 million rupees. Government has allocated 5 billion rupees for Prime Minister Youth loan scheme. National bank of Pakistan and First Women Bank Limited are the executing agencies of Prime Minister Youth loan scheme. SBP will monitor the whole schemes. While SBP also encourages private banks to participate in this scheme. SMEDA has prepared 50 feasibility reports which are available at SMEDA’s official website.
Application forms are available both in Urdu and English. Application forms are also very simple even a lay man can fill them easily without any hassle. Processing time is just 2 weeks. Application forms are available on all branches of designated banks and online on their websites. Form processing fee is also very low i.e just 100 rupees but it is non refundable. We congratulate to successful candidates and those who could not get loan should also contact Akhuwat as Akhuwat provides 100 percent interest free loans. And don’t disappoint as it is possible that your name may be included in next balloting or Almighty Allah may bless you with some thing better than this loan. Keep visiting studysolutions.pk as it is a movement which aim to help every one and you will find daily some thing interesting on this website.